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What does a budget mean to you.

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Forum topic by twiceisnice posted 10-13-2011 09:46 PM 948 views 0 times favorited 4 replies Add to Favorites Watch
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twiceisnice

95 posts in 2289 days


10-13-2011 09:46 PM

A budget to me would be like a cell phone bill. Should I go with the plan that costs 39.95 a month or the one that is 80.00 a month. Thats something I will be paying for the rest or my life.

Then theirs the other budget. Well, I only have enough money * to buy this tool or piece of machinery and later on down the road finding yourself sitting it in the corner or selling it for half price or just giving it away.

Then you say to yourself , I knew I should’ve (saved my money)* just a little bit longer and bought the good stuff in the first place.


4 replies so far

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agallant

530 posts in 2348 days


#1 posted 10-13-2011 09:57 PM

Yup. I did that with a jointer, a plainer and now and now my sawstop. The constant battle of I want it now vs holding off. Then again budgit does not matter too much to me because I realise that even if I bought the 3HP sawstop to start with I would have wanted the 5HP or what ever the next best thing is.

On the other hand if I save up for the best thing they make I often find myself selling it so I can use the money twards another toy. ADD sucks….

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crank49

3981 posts in 2433 days


#2 posted 10-13-2011 10:11 PM

I wonder why this got posted in the “Non-Shop Talk” forum?

Never enough money and what I want for my shop are as related as you get.

-- Michael: Hillary has a long list of accomplishments, though most DAs would refer to them as felonies.

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dbhost

5604 posts in 2694 days


#3 posted 10-13-2011 10:32 PM

According to http://dictionary.reference.com/browse/budget, the word budget means…

“budg·et   [buhj-it] Show IPA noun, adjective, verb, -et·ed, -et·ing.
noun
1.
an estimate, often itemized, of expected income and expense for a given period in the future.
2.
a plan of operations based on such an estimate.
3.
an itemized allotment of funds, time, etc., for a given period.
4.
the total sum of money set aside or needed for a purpose: the construction budget.
5.
a limited stock or supply of something: his budget of goodwill.”

Entry #4 I find most appropriate. The total sum of money set aside or needed for a purpose: the construction budget, or the tool budget in this case…

A budget sadly speaking, is one of, if not THE determining factor of how many of us fill in our shops. In order to be able to afford the tools and materials we want, give the financial resources we have available, in a time frame where we can actually do anything useful with them before we are dead, we often have to make compromises on features, or brands or whatever to end up at our desired goal.

-- My workshop blog can be found at http://daves-workshop.blogspot.com

View gfadvm's profile

gfadvm

14940 posts in 2152 days


#4 posted 10-14-2011 04:36 AM

I may look at things a little differently as I make my hobbies support themselves (they don’t have to make money but they have to break even). So when I’m looking to buy a toy, I ask myself: how many chairs,etc do I have to sell to pay for this? Is this doable in a reasonable period of time? I try really hard to stick to this. When I bought my new table saw, I waited until I sold enough old tools,etc on CL to pay for it. It’s amazing what you can sell on CL! I’ve sold stuff that I was ready to haul to the dump and had people fight over it! P T Barnum was right.

-- " I'll try to be nicer, if you'll try to be smarter" gfadvm

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